Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-06-30
WALL ST. MAGNATES.
jay Gould and Russell Sage said to be
Triumphant IN Taking the Scalp
OF Cyrus ". Field
SIR. Field Denies that BE Was Forced to
Unload to Gould, but Refuses to state
tho Price He Received.

NEW ORh, june 2b.-ln regard 10 the
sale of a block Of so, 900 shares Of Man
aattaa Elevated Railway stock by Cyrus
II ED to Jay Could, the Times says:
Jay 6 5uld and Russell Sage sre triumph
ant Cyrus ". Fields scalp has been
taken. WsL street hes new victory to
celebrate, and aboriginal savageTy is
once mere discounted by the Stock
Exchange. Mr.. Field made q brave
dgat, but he did not realize until the end
came hat he Ygas 20 1e struck down in
the vtry,h0uae Of his friends. He knows
a good many things now that he did not
even dream OF g week ago. He has
learned the vslue OF protested friendship
and declared partnership. He has
seen What dollars and cents
nave 10 90 with loyalty.
He discovers now cheap Is duplicity and
double dealing and downright betrayal.
His feet have gone ''pgtter, pstter, pat
ter, :" lust e. Deacon Russell Sage prophe
sieG they would 20 when the time was
ripe for the Sage ard Gould on
slaught On Information coming
direct -sOm Jay Gould and Rus
sell Sage the Times chronicled the fact
last week that the. distinguished twain
r
when they precipated what amounted 10
the Stock Exchange panic by schemes that
enabled thsm 10 get temporary corner
on money. Men OF consequence saw
thr0uge the G0uld-Sage tactics
early n the game The terrific tumbling
that YVES given Manhattan stock settled
all questions IS to The purpose OF the
precious pair and the convictions thus
formed we're made indisputabie when
early in The paniCky time Of Friday,
while Manhattan was tumbiing down
neaaIC1g 40 points, Que Of Mr.. Fields
most prominent personal brokers' had TO
80 begging around tie street Cor
al extension en- his contracts. No hint
OF this has hitherto been made public.
Had II been announced during the
troubl esome scenes on the Stock EX-
change i sweeping panic could not have
been stayed. But the extension petitiOned
for was given. The disaster WAS pre-
vented and the man VINO was merCiful and
generous et that crucial moment
was the m&G whom Cyrus w. Field has
attacked ruthlcssly. The generosity Of
AZ enemy kept of q panic then Just as
the tnrusrs OF friends and partners now
accomplish his embarrassment, and seek
him Of fearful spots There is more
than one kind Of man in Wall street. Early
Yesterday morning Wall stree began TO
bloom out WIKI stories cOrIOOOratjve Of
ell that the Times had outlined, and be
fore noon floating Iumors had crystalized
into generally EXPRESSED belief tthat Field
had been obliged 10 seek GOuld's favor, J
sWepDingR big block of Manhattan stock
Tor needed money, Fifty thousand shares
of stock, it was agreed, had been given
up by Field. The first quoted price was
Sl25 per share, but that rae
wRs not long accepted and be-
fore business closed for the day
it generally passed on the Stock Ex-
change is an undisputed fact shat Gould /
had cee2 obliged only to pay 800 per
share Tor the 1000 he had |
taken. Some very strenuous eff |
rort6 were made 10 disguise the /
transactions, but before the dGy was /
over nobody presumed to deny any Of the /
main facts. What are Fields losses: /
That = Jmethgg that moody but him |
self can figure out A good deel Of Mr..
Fields stock cost him very
wears Sg0 when with Messrs. !
Sage and Gould he carried the bear cam
paiEn 10 such IN INSCRIPTIONS extent
frightened out Of their stock at great
sacrifice But during the last two or
three years, since the stock was ballooned
away up 10, 20, 30 and - points above par
ne mas been obliged 10 take en- big
additional burden Of stock st an Inflated
price in order To make quotations safe
and steady, and il is hardly likely that his
average fell any under par. Sage for ceI-
tain, and Gould, doubtlessly, has
salted him with stock at high
prices. Russell Sage, for instance,
Sleek, milk-msnnered Presbyterian elder
that he Is, sold out on Cyrus over $500
shsres of stock in one lot, two or three
months ago at about 5 IS; and toGeCeiYe
Cyrus into the idea that he ws@ laying
fair, Elder Sage has been bOTrO" ug that :
amount Ct stock every since rather than t
run the risk Of detection by giving up the /
shares that stand i'll his own name 5
iIT. Sage says now: "CyTus still has ]
some money left. Il is sll wrong to re- !
BORT that he is dead broke" IL Mr.. ]
Fields iDds that bis surplus is in any !
way burdensOme, however, he cen find I
z. Sage still il business a. his old stand. {
a TALK WITH GOULD. S
NEW YORK, June 29-The Tribune !
o-Gsv published long interview with q
ley Gould, in which the millionaire ed- 8
nits that he to-day purchased $4,000 a
aares Of Manhattan Elevated stock as ?
Tss rUmOTed on the Exchange late IN the
Icy. He declined to say from whom he
ought it but said he made S
he purchase as an investment, not for q
indicate, but for himself individually, C
ecsuse he thought it 8 good bargain. T,
lie paid for it in full, and IN order TO do :
0 had 10 call some loans, but he denied -
lat this made the money market strin- y
ent, because the cash at once went into y
hannels Of business. He said there was a
o change n the telegraph situation. ~
Te s>eTG Union he declared TO be doing 9 -,
business, having handled on ~
londay in the main NeW York office -
.one los, 900 messages, the largest u
avs work IN the history OF j.
le telegraph, aud the cable business
as enormous. He pronounced the gen q,
raj outlook encouraging. The railroads
ere making large earnings. Money was
1ming from abroad, and stocks had g
robaby passed into strong hands and y
ere paid.
The Tribune adds that the transaction W
as the general theme Of conversations lana c(
.at many rumOrs were afloat connecting 70
ouid with :mpor .snt transactions.
mong them wss one that the telegraph
ouble had been settled by Henry S. 81
-eS turninr over IN Mr. GOuld his Ralti-